Market Snapshot

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Market Snapshot

Market Snapshot
Aug 26

As planned, less than meets the eye

The Fed: Jackson Hole in one

Fed Chair Janet Yellen delivered a media-friendly quote while staying mostly non-committal on the timing of the next rate hike – no small achievement. Meanwhile, more good news arrived about 2Q in the U.S. and the ECB indirectly suggested that the most helpful boost to Europe's economy would be fiscal rather than monetary.

Market Snapshot
Jul 15

Wallets at the ready

US consumers to the rescue?

Slow, steady growth spread to the consumer sector in June, with retail sales perking up right along with consumer prices. Meanwhile, Japan's election gave Shinzo Abe a historically free hand for reform, both economic and military, and China growth showed the benefits of government support.

Market Snapshot
Jul 08

US jobs: Risk-on, but for how long?

Friday’s jobs report cheered markets; good news was perceived as good news, given broad-based belief in a still-dovish Fed. Meanwhile, the three-way tug-of-war between Italy's central bank, a preoccupied ECB and a regional Italian bank continued.

Market Snapshot
Jul 01

Market Liquidity: The dog that didn't bark

While beginning the adjustment to a changing economic and political landscape, world market liquidity appeared to hold up well, thanks to careful central bank management. Meanwhile, Puerto Rico got a much-needed break.

Market Snapshot
Jun 24

At what price?

You Brexit, you bought it

Last week's markets and policymakers' reaction to the UK referendum results were about price discovery and risk control; meanwhile, US banks passed an important stress test, and Saudi Arabia seemed to endorse $50 crude.

Market Snapshot
Jun 17

It's not just for Brexit

Central Banks: Four no's and a maybe

The Fed, the Bank of England, the Bank of Japan and the Swiss National Bank all kept their rates unchanged, each for different reasons, but all nodding to the UK's referendum on leaving the EU -- as global bonds and the Japanese yen continued to soar. All this as the European Central Bank (ECB) got ready to add yet more stimulus.

Market Snapshot
Jun 10

Flight to safety in tough times

Bonds: Shaken, not stirred

Bond yields worldwide lurched downward, at least in part due to unsettling news about global growth and the June Fed meeting. Meanwhile, US job growth remains stymied, but not for lack of demand for workers; and Saudi Arabia plans to proffer a piece of patrimony as part of a planned program of reform.

Market Snapshot
Jun 03

US Jobs: Dud on Arrival

The May US job report was a disappointment, with hiring far below expectations, feeding skepticism about a June Fed rate hike. Japan's government backed away from a scheduled sales tax increase, fearing the impact on consumer spending.

Market Snapshot
May 27

Summertime & the Living is...

The Memorial Day holiday in the U.S. marks the unofficial start of summer and that means road trips and hot dogs. A drop in temporary employment this year has eyes focused on Friday’s U.S. jobs report for signs of a summer cool down. Germany's GDP growth for the first quarter of 2016 was strong. Cuba could legalize small- and medium-sized private businesses by the end of the summer and the US dollar has recently shown renewed strength against most other currencies.

Market Snapshot
Apr 29

Eurozone: Ready to roll?

The Eurozone economy is beginning to turn in respectable aggregate growth figures, though disinflation seems to be the rule rather than the exception. The Fed held to its current rate stance, but suggested that it might hike again sooner rather than later. Meanwhile, the Bank of Japan surprised many by also deciding to hold its fire.


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